Erickson Signs New Seven-Year Oregon State Contract
Dec. 2, 2000
CORVALLIS, Ore. - Oregon State Football Coach Dennis Erickson signed a new seven-year guaranteed contract Saturday that has potential for him to earn nearly seven million dollars over the length of the contract.
Erickson's new contract supersedes the five-year contract he signed in January of this year.
Erickson's new contract calls for him to make a base salary of $625,000 in 2001, with incentives that could push the figure to over $800,000. The base salary escalates with each year of the contract and gives him an opportunity to earn between 6.5 and seven million dollars during the seven-year period. Erickson's new contract also includes a $125,000 buyout clause.
'I am very excited about signing a seven-year contract,' said Erickson. 'We have built something very special here the last two years and we want to continue to build on what we have done. We want to build facilities and continue to make this one of the better programs in the country. I am looking forward to continuing to do that, and I know that my staff and family feel the same way. This will give us some longevity and stability in our football program.'
Erickson, 53, originally signed to coach the Oregon State football team on January 12, 1999. Since then, it has been a whirlwind of success for Beaver football.
Erickson just completed his second regular season at Oregon State with a 10-1 record. The Beavers finished 7-5 in 1999 and played in O'ahu Bowl, OSU's first bowl appearance since the 1965 Rose Bowl. Erickson's current two-year record with Oregon State is 17-6, a winning percentage of .739.
Erickson is currently the seventh winningest active college football coach in the nation with a 130-46-1 record, a percentage of .737. Erickson is currently 11th on the list of active college coaches with total number of victories.
'I am very happy for Oregon State University and for Dennis Erickson and his staff,' said Director of Athletics Mitch Barnhart. 'His signing a contract extension will continue to allow our football program to grow. They have done a remarkable job in two years. With the support still growing, there is no doubt this staff will continue to have success.
'I know our fans will respond with tremendous support for our 2000 bowl game and season tickets for 2001 as we continue to move this program forward,' Barnhart said.
'We are very proud of what Dennis Erickson and his staff have accomplished at Oregon State' said Oregon State University President Paul Risser. 'We are pleased that Coach Erickson has signed a new contract and will be at Oregon State for a long time.'